Pier Capital LLC Makes New Investment in Endava plc (NYSE:DAVA)

Pier Capital LLC acquired a new stake in Endava plc (NYSE:DAVA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 218,621 shares of the company’s stock, valued at approximately $6,755,000. Pier Capital LLC owned about 0.37% of Endava at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DAVA. Assetmark Inc. grew its stake in Endava by 93.1% in the 4th quarter. Assetmark Inc. now owns 985 shares of the company’s stock worth $30,000 after acquiring an additional 475 shares during the period. Blue Trust Inc. grew its position in shares of Endava by 28.5% in the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock valued at $46,000 after purchasing an additional 331 shares during the period. GAMMA Investing LLC grew its position in shares of Endava by 86.4% in the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $50,000 after purchasing an additional 745 shares during the period. PNC Financial Services Group Inc. increased its stake in Endava by 60.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,086 shares of the company’s stock valued at $126,000 after purchasing an additional 1,538 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Endava during the fourth quarter worth about $215,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on DAVA. Needham & Company LLC dropped their price objective on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Morgan Stanley upped their price target on shares of Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Susquehanna cut their price target on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.10.

Endava Stock Performance

NYSE:DAVA opened at $20.81 on Tuesday. The firm’s fifty day simple moving average is $28.19 and its 200 day simple moving average is $28.14. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. Endava plc has a twelve month low of $20.50 and a twelve month high of $39.19. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 189.21, a PEG ratio of 2.26 and a beta of 1.42.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). Endava had a return on equity of 0.89% and a net margin of 0.74%. The company had revenue of $250.63 million for the quarter, compared to analyst estimates of $197.33 million. As a group, equities research analysts expect that Endava plc will post 0.57 earnings per share for the current fiscal year.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.